Loading
This thread is archived and the information may not be up-to-date. You can't reply to this thread.
syyyyyd10(Newbie)Newbie
31 Aug 2023

I am a Permanent Resident (PR) in Australia and a tax resident here as well. My parents are Chinese citizens as well as tax residents who own several properties in the United States. Since I am their only child, they wish to transfer some of these U.S. properties to me. Do I need to pay any kind of tax in Australia, such as a Value Added Tax (VAT), for this transfer? Is this considered a gift from my parents? Also, will I only be liable for any capital gains tax in Australia if I sell the property after holding it for several years? Lastly, will the ATO require my parents to provide documentation regarding the original source of the funds used to purchase these properties?

557 views
1 replies
557 views
1 replies

Most helpful response

Most helpful reply

GabbyATO(Community Support)Community Support
31 Aug 2023

Hi @syyyyyd10,


If your parents want to transfer property to you then this can be considered a gift! Our tax on gifts article has some information on this. You're right about CGT will apply when you sell. You'll need to know the market value of the properties when they're transferred to you because this will form part of the cost base to help you work out your CGT. Check out our page about transferring property to family.


VAT is GST in Australia - you can have a look at our information on GST and property as it depends on your specific circumstances whether it will apply. It doesn't like you're a business so GST shouldn't apply.


We may ask for documentation regarding the transfer of the properties, however its unlikely that we'd need to see the source of the funds used to purchase them.

All replies

Most helpful reply

GabbyATO(Community Support)Community Support
31 Aug 2023

Hi @syyyyyd10,


If your parents want to transfer property to you then this can be considered a gift! Our tax on gifts article has some information on this. You're right about CGT will apply when you sell. You'll need to know the market value of the properties when they're transferred to you because this will form part of the cost base to help you work out your CGT. Check out our page about transferring property to family.


VAT is GST in Australia - you can have a look at our information on GST and property as it depends on your specific circumstances whether it will apply. It doesn't like you're a business so GST shouldn't apply.


We may ask for documentation regarding the transfer of the properties, however its unlikely that we'd need to see the source of the funds used to purchase them.

Featured articles

Renting out all or part of your home? What to include in your tax return

21 May 2026 · 4 min read time

How to work out your tax residency

15 Apr 2026 · 8 min read time

Top liked users

  1. Taxduck

    (Taxicorn)

    1342 likes

  2. Bruce4Tax

    (Taxicorn)

    973 likes

  3. YellowPotato

    (Taxicorn)

    369 likes

  4. Ken_Oath

    (Master)

    199 likes

  5. knaresbro

    (Devotee)

    141 likes

Top contributors

  1. Taxduck

    (Taxicorn)

    2931contributions

  2. Bruce4Tax

    (Taxicorn)

    2844contributions

  3. YellowPotato

    (Taxicorn)

    975contributions

  4. knaresbro

    (Devotee)

    293contributions

  5. TobyJDodd

    (Devotee)

    176contributions

Loading
Do I Need to Pay Taxes in Australia for a Property Gifted to Me by My Parents in the United States? | ATO Community